Is private health insurance still worth it?

Is private health insurance still worth it?

Australians with private health insurance will be forking out more for cover from April 1 when premiums go up on average 3.25 per cent.

Add in cuts to the federal government’s rebates, which will bump up the cost of a single-person top hospital policy from around $2540 to $2625, and you can expect to pay an average of $207 more per year for exactly the same product.

The increase in price as well as an erosion of extras from plans have lead to many Aussies pondering whether they're really getting bang for their buck.

Research company Roy Morgan recently found that nearly half of people who currently have private health insurance don't consider it essential and that only 55 per cent of all Australians think they need it.